Adtalem Global Education To Sell Financial Services Unit To Wendel & Colibri Consortium For $1 Bln

(RTTNews) - Adtalem Global Education (ATGE) said that it agreed to sell its Financial Services segment to a consortium of Wendel Group and Colibri Group in an all cash transaction for $1 billion. The segment includes ACAMS or Association of Certified Anti-Money Laundering Specialists, Becker Professional Education and OnCourse Learning.

The transaction is expected to close in the third quarter of fiscal year 2022, subject to customary closing conditions.

The company noted that it will begin reporting the financial services segment as a held for sale and discontinued operation in its second quarter fiscal 2022 earnings report.